If newspapers are suffering a death by 1000 cuts, the next 100 will be made at the New York Times. The company today announced plans to reduce its newsroom staff by eight percent by the end of 2009. Cuts will be made by buyout, but the company will resort to layoffs should its hand be forced.
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Business journalists who had their careers curtailed by the souring economy might consider stopping by the Securities and Exchange Commission on their next trip to the unemployment office. The agency may have a good use for their talents, according to Chairman Mary Schapiro, who finds the sadly diminished ranks of the business press worrisome.
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Yahoo’s public shaming before the House Foreign Affairs Committee last November apparently had quite an effect on Internet companies cooperating with Chinese government censorship and demands for information on dissidents. Less than a year after that brutal Capitol Hill humiliation, during which Committee Chairman Tom Lantos (D., Calif.) lambasted Yahoo’s leadership as moral “pygmies,” Yahoo, along with Microsoft and Google, is introducing a code of conduct that will govern their business practices in repressive countries.
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